Small businesses are the kind of businesses that are privately owned and operated company. They are the type of independently owned corporations or partnerships that have fewer numbers of employees and limited revenue depending on the industry.
Some of the few examples of small business are:
- A bakery that employs 10-15 people is an example of a small business.
- A plant nursery is single-handed run by an individual.
- A makeup artist starting their own beauty salon or a photographer starting their studio is an example of a small business.
- A manufacturing company that employs less than 300 people is an example of a small business.
Today, the world is growing rapidly, people’s minds and buying behaviors are continuously changing, and new markets are widely open worldwide. As we have witnessed, such catastrophes like pandemic taking place in the world, it is highly affecting businesses and people’s income.
In this era, small business is increasing in numbers and equally their competition to survive in the business market. Many entrepreneurs and small businesses are spending money on digital marketing and advertising.
As an entrepreneur and small business owner, it can be very exciting for you to run a successful campaign. With it comes the con, which is to see that the money you have spent is never coming back.
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So it can be very tough for business owners to see how much money they have to waste on digital marketing on a daily basis. The biggest reason why most of the business owners make those mistakes is that they don’t understand how digital marketing really works (and even many fancy marketers in the business get it wrong). Here you will learn about 3 of the Worst Ways Small Businesses Waste Money on Marketing.
Designing a Website without Clarifying Their Message
There is a great story you might come across when the message isn’t clear in a company. Let me paraphrase it for you. It was about the two furniture stores. Both of them sold very similar items with very similar prices.
It came to the point where you wouldn’t know if you are in Store A or Store B due to the resemblance between them. The kicker was that Store B was making a lot more money than Store A. We are talking about a huge difference in traffic, which resulted in more sales and resulted in repeat business.
But how is it possible?
On paper, everything seems so similar. Similar store with friendly staff, similar design, and furniture, everything looked similar. Heck, even the timing of opening both of those two stores up was nearly identical.
So what really happened? How did Store B get ahead in making more money than that of Store A? The answer is simple.
Store B had a better story to tell.
When you entered in Store A, you were greeted by very friendly staff who told you that if you have any inquiries, you can come and find them. They will be much happier to help you.
This is great! It seems like a very friendly staff.
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On the other hand, Store B greeted the customer and walked with them for 60 seconds. In those 60 seconds, they were able to give much more information about their furniture and how it is manufactured, how long it takes to make it, and what amazing quality they have to offer. Who are the owners of the store and how the company got started? They covered every detail that one needs to know before purchasing anything.
People connected better in that way and now they could re-tell that story to their friends when they come over to check out the new furniture.
Yes, it is that simple and easy.
So on the website, make sure you have a great story to tell, and a clear message to convey to your customers. People need to know more about the company than just its benefits. They need to know what makes your company distinctive, why they should do business with you, which makes you noteworthy.
Needless to say, once you get into a large scale company, you have “word of mouth” working for you and a group of other stuff. Although, as a small business, you need to depend heavily on your messaging and get it right.
Sponsoring a Trade Show Display without Strong One-Liner
It is very common and beneficial for emerging businesses to participate in a trade show since it increases the brand influence of the business. In that way, you can also directly communicate with consumers and attract more business. People tend to spend an enormous amount on these trade shows. Thus, many small businesses leave no stones unturned to allure more customers at them.
However, in the long run, the message you convey to the customers is the principal key to gaining more sales. You and your staff should be capable of clearly communicating your business operations to potential clients, or else there will be no certainty among them for relying on your company.
Eye-popping decorations can only attract some clients to your location. But it is ultimately the words that will earn you the real business. If your words fail to convince your customers/clients of your business’ reliability, then you are wasting massive investment.
The best way for you is to create a one-liner: a well-crafted sentence that you can say gets people to buy your product. It is the most simple and effective way of communicating with your typical consumers regarding their problems. It will describe how your business or the product or services you are offering will solve that problem better than the other businesses.
Once you have a one-liner, make sure the employee who staffs your booth knows it cold. When you use that technique to say what you do, those potential customers will listen and remember it. You will actually get a great return on your trade show investment instead of throwing away your marketing funds.
Therefore, do not continue to spend massive amounts on conducting trade shows without a sharp one-liner that conveys the true message of your business.
Developing an Email Newsletter That No One Is Interested In
If you’re asking customers to sign up for your email newsletter, then you’re wasting money. Here is the reason why No one wants to sign up for your email newsletter!
Honestly, how many newsletters do you sign up for in a given month or in a year? And of the ones you get, which ones do you actually read, let alone click on it?
Let’s assume somebody does sign up for your newsletter. Meaning that, in every week or a month, you have got to send one.
For that you’ve got to write or collect the content, find out images, design, format, and test it all, and forward it. Or you have to ask one of your employees to spend their valuable time doing it instead of other important tasks on their list.
Nevertheless, what does all that effort really do to handle a business? It’s time to go past the newsletter. There are much better email strategies out there that can:
- Formulate additional email signups than a simple newsletter offer ever could.
- Establish stronger, more trustful relationships with customers.
- Strengthen your influence as a leader in your industry.
- Lead sales straight from the emails you send.
All things considered, avoiding these above-mentioned ways might help you save from wasting money on marketing. Try to keep it simple. Focus on your goal and strategies, work hard and everything will start to fall in place.